Punjab national bank RD calculator

What is use of Punjab national bank RD calculator,can you here tell me about Punjab national bank RD scheme , as I want to open this account there ??

As you want I am telling Punjab national bank RD Recurring Deposit scheme is very popular among the salaried class, specially who can afford to save only few hindered or say few thousand rupees per month. It is a boon for people who do not have a large amount of savings and thus can not use the Fixed Deposit scheme of the banks.

Punjab national bank RD Interest Calculator calculates the maturity value (i.e. principal amount + interest earned) of the deposits made under recurring deposit schemes of banks in India.

Maturity Value of the Recurring Deposits - based on Quarterly Compounding)



M =R [ (1+i)n – 1]
--------------------
1- (1+i) -1/3

M = Maturity value
R = Monthly installment
n = Number of quarters
i = Rate of interest/400

Features of Recurring Deposits (RD) Punjab National Bank


Enjoy both individual Recurring Deposit account and joint Recurring Deposit account
Individuals above age ten can open a PNB Recurring Deposit account by providing age proof
Individuals below age ten can open an RD account if it is authorized
Corporate firms, commercial organizations, proprietorship firms can have Recurring Deposit accounts with Punjab National Bank.
All Hindu Undivided Families can enjoy the benefits of PNB Recurring Deposit accounts.
Religious or charitable trusts, associations, clubs and societies can maintain Punjab National Bank RD accounts.
Panchayats, municipalities, government and quasi government bodies can have RD accounts with PNB.

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Answered By StudyChaCha Member